June WASDE today

June WASDE is on tap today at 11 am. Most estimates are looking for minimal changes domestically and some trimming of the South American production. We will be watching to see if they decide to increase usage in either corn or soybeans as processors have been chewing thru supply the first half of the year. This could be a bullish wild card. Looking to next week we have higher temperatures rolling across the Corn belt. You will see some benefit to areas with good moisture but 20% of the crops could have some stress in the drier areas. Basis levels remain very firm and continue to move higher in many areas as ethanol plants bid for supply that seems harder to come by this spring. Markets should remain supported going into next week until we see the result of the warm weather. NFC Grain Comments Options -6.10.22 (1)